Tuesday, April 17, 2018

Media: Netflix Goes Wider

Even Netflix executives were surprised by the company’s blockbuster performance in its first quarter as the company beat analysts’ and its own expectations by adding 7.41 million subscribers in its first quarter--blowing past the 6.5 million expected by the Street. 

Revenue jumped 40% to $3.7 billion and marketing spend in the quarter rose almost 77% year-on-year to $479 million. In its letter to shareholders, Netflix said it plans to invest in more marketing of its new original titles to create “more density” of viewing and conversation around its hits. 

Also on the topic of marketing, Netflix talked up the success of its surprise Super Bowl ad push and drop of “The Cloverfield Paradox,” saying the event demonstrated “how a big branded film can be marketed and delivered to consumers instantaneously across the globe without a wait for the theatrical window.”

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